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Atlantic Power Corporation (AT) Review – Making Smarter Decisions

153 institutions hold shares in Atlantic Power Corporation (AT), with 3.83M shares held by insiders accounting for 4.27% while institutional investors hold 47.82% of the company’s shares. The shares outstanding are 88.90M, and float is at 85.56M with Short Float at 1.27%. Institutions hold 45.78% of the Float.

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The top institutional shareholder in the company is Neuberger Berman Group, LLC with over 7.09 million shares valued at $14.89 million. The investor’s holdings represent 7.95% of the AT Shares outstanding. As of Dec 30, 2020, the second largest holder is JP Morgan Chase & Company with 5.74 million shares valued at $12.05 million to account for 6.43% of the shares outstanding. The other top investors are Blackrock Inc. which holds 4.83 million shares representing 5.41% and valued at over $10.13 million, while Vanguard Group, Inc. (The) holds 3.82% of the shares totaling 3.4 million with a market value of $7.15 million.

Atlantic Power Corporation (NYSE: AT) is 38.57% higher on its value in year-to-date trading and has touched a low of $1.79 and a high of $3.06 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The AT stock was last observed hovering at around $2.86 in the last trading session, with the day’s gains setting it 0.05% off its average median price target of $3.03 for the next 12 months. It is also 3.96% off the consensus price target high of $3.03 offered by 2 analysts, but current levels are 3.96% higher than the price target low of $3.03 for the same period.

Currently trading at $2.91, the stock is 1.68% and -0.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.51 million and changing 1.75% at the moment leaves the stock 28.53% off its SMA200. AT registered 48.47% gain for a year compared to 6-month gain of 44.78%. The firm has a 50-day simple moving average (SMA 50) of $2.8836 and a 200-day simple moving average (SMA200) of $2.3810.

The stock witnessed a 0.34% loss in the last 1 month and extending the period to 3 months gives it a 38.57%, and is 3.93% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.20% over the week and 1.56% over the month.

Atlantic Power Corporation (AT) has around 261 employees, a market worth around $263.82M and $271.90M in sales. Current P/E ratio is 4.68 and Fwd P/E is 18.77. Profit margin for the company is 27.30%. Distance from 52-week low is 62.57% and -4.90% from its 52-week high. The company has generated returns on investments over the last 12 months (13.30%).

Atlantic Power Corporation (AT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Atlantic Power Corporation (AT) is a “Sell”. 2 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Atlantic Power Corporation is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 252.40% this year, but quarterly earnings will post 2.80% year-over-year.

Atlantic Power Corporation (AT) Insider Activity

A total of 26 insider transactions have happened at Atlantic Power Corporation (AT) in the last six months, with sales accounting for 13 and purchases happening 13 times. The most recent transaction is an insider purchase by Howell Kevin, the company’s Director. SEC filings show that Howell Kevin bought 800 shares of the company’s common stock on Jun 24 at a price of $1.86 per share for a total of $1488.0. Following the purchase, the insider now owns 0.19 million shares.

Atlantic Power Corporation disclosed in a document filed with the SEC on Jun 24 that Ronan Terrence (Chief Financial Officer) bought a total of 2,600 shares of the company’s common stock. The trade occurred on Jun 24 and was made at $1.85 per share for $4810.0. Following the transaction, the insider now directly holds 0.55 million shares of the AT stock.

Still, SEC filings show that on Jun 19, Ronan Terrence (Chief Financial Officer) acquired 2,000 shares at an average price of $1.88 for $3760.0. The insider now directly holds 548,152 shares of Atlantic Power Corporation (AT).

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Atlantic Power Corporation (AT): Who are the competitors?

The company’s main competitors (and peers) include Xcel Energy Inc. (XEL) that is trading 12.73% up over the past 12 months and Duke Energy Corporation (DUK) that is 22.09% higher over the same period. IDACORP Inc. (IDA) is 14.17% up on the 1-year trading charts. Short interest in the company’s stock has risen 13.74% from the last report on Feb 11, 2021 to stand at a total of 0.94 million short shares sold with a short interest ratio of 0.77.

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